Etf linked funds are OTC funds. ETF-linked fund, also known as shadow fund and replication fund, refers to an open-end fund that invests most of the fund assets in ETFs that track the same underlying index, closely tracks the performance of the underlying index, pursues the minimization of tracking deviation and tracking error, adopts an open operation mode, and can be purchased and redeemed off-site.

Etf is an on-site fund. Exchange-traded funds (ETFs), also known as transactional open-end index funds, index stock funds and exchange-traded funds, are open-end funds listed and traded on exchanges, with variable fund shares.